Business•mint - news•Mar 18
Delhi HC gives SpiceJet final 4 weeks to deposit ₹144.5 crore in Maran dispute, rejects property pledge | Today News
5 crore within four weeks in its ongoing arbitration dispute with Kalanithi Maran and KAL Airways Pvt. Justice Subramonium Prasad rejected SpiceJet’s plea seeking modification of the January order, under which the airline had proposed furnishing an immovable property worth about ₹ 148 crore as security instead of making the cash deposit. In July 2018, the tribunal rejected Maran’s ₹ 1,323 crore damages claim but directed SpiceJet to refund ₹ 579 crore, along with interest, relating to the warrants and preference shares.
4 min
